Ernst & Young Foundation
- Assets
- $40.0m
- Revenue
- $27.6m
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 03/1959
- Data as of
- 06/2021
- EIN
- 13-6094489
Organization Overview
Ernst & Young Foundation is located in New York, NY. The organization was established in 1959. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ernst & Young Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Ernst & Young Foundation generated $27.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $29.0m during the year ending 06/2021. While expenses have increased by 9.1% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Ernst & Young Foundation has awarded 4,833 individual grants totaling $132,349,109. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
DONOR INDIVIDUALIZED CHARITABLE ACCOUNTS - GIFTS FROM CONTRIBUTIONS BY PARTNERS AND RETIRED PARTNERS OF ERNST & YOUNG LLP FOR SPECIFIED SCHOOLS/CHARITIES.
MATCHING GIFTS PROGRAM FOR HIGHER EDUCATION - SUBJECT TO CERTAIN LIMITS, THE FOUNDATION MATCHES DOLLAR-FOR-DOLLAR CONTRIBUTIONS BY PARTNERS AND EMPLOYEES OF ERNST & YOUNG LLP TO ACCREDITED EDUCATIONAL INSTITUTIONS THAT MEET CERTAIN REQUIREMENTS.
EDUCATIONAL AND SPECIAL PROJECT GRANTS - THIS ENCOMPASSES GRANTS FOR SPECIAL PROJECTS SUCH AS EDUCATION FORUMS, RESEARCH STUDIES AND GRADUATE TAX PROGRAMS AND FOR THE IMPROVEMENT OF EDUCATIONAL OPPORTUNITIES FOR THE DISADVANTAGED AND OTHER SPECIAL EDUCATIONAL PROJECTS.
DISASTER RELIEF
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ginnie Carlier President | OfficerTrustee | 1 | $0 |
Sandra Oliver Treasurer | OfficerTrustee | 1 | $0 |
Ellen J Glazerman Executive Director | Officer | 5 | $0 |
Peter D Lease Director | Trustee | 1 | $0 |
Mark Rountree Director | Trustee | 1 | $0 |
Michael S Solender Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $26,817,116 |
| Noncash contributions included in lines 1a–1f | $2,084,589 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $26,817,116 |
| Total Program Service Revenue | $0 |
| Investment income | $180,254 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $632,709 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $27,635,064 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $28,447,513 |
| Grants and other assistance to domestic individuals. | $154,215 |
| Grants and other assistance to Foreign Orgs/Individuals | $182,088 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $40,406 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,572 |
| Fees for services: Other | $163,190 |
| Advertising and promotion | $0 |
| Office expenses | $16,040 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $6,285 |
| Total functional expenses | $29,011,309 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $28,321,864 |
| Pledges and grants receivable | $197,492 |
| Accounts receivable, net | $113,087 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $11,327,364 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,163 |
| Total assets | $39,971,970 |
| Accounts payable and accrued expenses | $1,121,215 |
| Grants payable | $707,585 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,192,881 |
| Total liabilities | $3,021,681 |
| Net assets without donor restrictions | $34,415,027 |
| Net assets with donor restrictions | $2,535,262 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $39,971,970 |
Grants Awarded
Over the last fiscal year, Ernst & Young Foundation has awarded $26,196,891 in support to 742 organizations.
| Grant Recipient | Amount |
|---|---|
Highland, UT PURPOSE: Donor Advised Fd | $1,375,000 |
Washington, DC PURPOSE: General Support | $1,066,720 |
Hampton, VA PURPOSE: General Support | $1,013,820 |
Atlanta, GA PURPOSE: General Support | $1,008,750 |
New York, NY PURPOSE: General Support | $1,000,000 |
New York, NY PURPOSE: General Support | $1,000,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Ernst & Young Foundation has recieved totaling $153,133.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $122,500 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $30,633 |
Endowment Analysis
| Beg. Balance | $4,563,000 |
| Earnings | -$1,321,000 |
| Ending Balance | $3,242,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fund For Public Schools Inc New York, NY | $69,123,846 | $27,701,638 |
National Collegiate Inventors & Innovators Alliance Hadley, MA | $19,763,432 | $45,805,073 |
Ernst & Young Foundation New York, NY | $39,971,970 | $27,635,064 |
Kipp New York Inc New York, NY | $134,718,837 | $36,118,873 |
Nellie Mae Education Foundation Inc Quincy, MA | $585,493,964 | $94,584,276 |
Say Yes Buffalo Scholarship Inc Buffalo, NY | $26,879,466 | $14,014,941 |
The Heckscher Foundation For Children New York, NY | $236,760,119 | $11,760,357 |
United Federation Of Teachers Educational Foundation Inc New York, NY | $18,651,586 | $11,866,585 |
Vista Foundation Hershey, PA | $12,658,681 | $12,905,128 |
Caroline & Joseph S Gruss Life Monument Funds Inc New York, NY | $48,124,527 | $2,679,769 |
Storehouse For Teachers Pittsburgh, PA | $4,365,823 | $11,202,988 |
Five Colleges Incorporated Amherst, MA | $34,378,872 | $10,361,692 |